Brokers Set Expectations for Olympic Steel, Inc.’s FY2017 Earnings (ZEUS)

Olympic Steel, Inc. (NASDAQ:ZEUS) – Equities researchers at Jefferies Group lifted their FY2017 earnings per share (EPS) estimates for shares of Olympic Steel in a report issued on Tuesday. Jefferies Group analyst S. Rosenfeld now expects that the basic materials company will earn $1.30 per share for the year, up from their prior forecast of $1.29. Jefferies Group also issued estimates for Olympic Steel’s FY2019 earnings at $2.71 EPS.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.05. The business had revenue of $331.44 million during the quarter, compared to analyst estimates of $323.05 million. Olympic Steel had a return on equity of 4.32% and a net margin of 0.99%. The company’s revenue was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.16) earnings per share.

Other equities research analysts also recently issued reports about the company. KeyCorp reaffirmed a “hold” rating on shares of Olympic Steel in a report on Tuesday, September 19th. Zacks Investment Research downgraded Olympic Steel from a “strong-buy” rating to a “hold” rating in a report on Friday, November 24th.

Shares of Olympic Steel (ZEUS) opened at $23.58 on Wednesday. Olympic Steel has a fifty-two week low of $15.83 and a fifty-two week high of $27.24. The company has a market capitalization of $244.12, a price-to-earnings ratio of 21.24, a PEG ratio of 2.00 and a beta of 1.79. The company has a current ratio of 4.23, a quick ratio of 1.54 and a debt-to-equity ratio of 0.82.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Thursday, November 30th. Olympic Steel’s dividend payout ratio is 7.21%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Algert Global LLC purchased a new stake in shares of Olympic Steel during the third quarter valued at $261,000. Foundry Partners LLC lifted its stake in Olympic Steel by 5.2% in the 3rd quarter. Foundry Partners LLC now owns 240,115 shares of the basic materials company’s stock worth $5,283,000 after acquiring an additional 11,825 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Olympic Steel by 46.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 203,761 shares of the basic materials company’s stock worth $3,969,000 after acquiring an additional 64,491 shares in the last quarter. Prudential Financial Inc. lifted its stake in Olympic Steel by 3.3% in the 3rd quarter. Prudential Financial Inc. now owns 103,140 shares of the basic materials company’s stock worth $2,269,000 after acquiring an additional 3,270 shares in the last quarter. Finally, State Street Corp lifted its stake in Olympic Steel by 5.8% in the 2nd quarter. State Street Corp now owns 234,772 shares of the basic materials company’s stock worth $4,574,000 after acquiring an additional 12,824 shares in the last quarter. 67.91% of the stock is owned by institutional investors and hedge funds.

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About Olympic Steel

Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.

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